The Tel Aviv Stock Exchange (TASE) has reportedly entered into a partnership with Accenture, a global management consulting, technology services and outsourcing company, and The Floor, a global Fintech innovation center, over developing a dedicated blockchain platform for lending security instruments.

Under the term of the partnership, the Blockchain Securities Lending (BSL) platform will be created to enable one-stop lending of all securities, providing access to more extensive volume of securities within shorter timeframes, and even those operating in shorter-term positions.

The new project will be based on the technology designed by Hyperledger blockchain consortium and will seek to cut the costs, enhance security and create more flexible lending conditions. Built on the top of Hyperledger’s Sawtooth platform, the project will also be powered by Software Guard Extensions security from Intel.

According to the joint statement made by the companies, the blockchain has a proper capability to ensure higher privacy of user data and provide P2P transactions with smart contract functionality, as well as a reliability of a distributed ledger without a chance to modify or tamper it.

Accenture will be developing smart contracts for the new project and offer more services for ensuring due operation of the BSL platform, which include project management, system integration, and consulting on cybersecurity issues.